December ICE NY cocoa (CCZ24) Monday closed down -559 (-6.75%), and December ICE London cocoa #7 (CAZ24) closed down -296 (-5.35%). Cocoa prices on Monday settled sharply lower due to concerns about chocolate demand. Long liquidation hammered cocoa prices after Jeffries warned that chocolate sales are “notably underperforming” other snacking categories due to elevated prices, prompting consumers to switch to cheaper snacks. Last Thursday, NY cocoa posted a 2-week nearest-futures high, and London cocoa posted a 1-month high. Tightness in cocoa supplies is pushing prices higher. ICE-monitored co…